Amazon becomes second $1 trillion company in US
New York, Sep 4 : Amazon on Tuesday became the second US public company after Apple to hit the $1 trillion valuation mark.
Last month, Apple became the first US company to become a $1 trillion company.
According to a report in CBS News, Amazon shares hit $2,050.49 -- climbing 1.5 per cent in the morning trade -- bringing the company's market value above $1 trillion.
Amazon Founder Jeff Bezos is already the richest person on Earth, with a net worth surpassing $150 billion.
He owns over 16 per cent of Amazon which he founded in a garage in Seattle in 1994.
Apple became the first $1 trillion company last month. The Cupertino-based iPhone-maker is currently worth about $1.1 trillion.
Google's parent company Alphabet Inc and Microsoft are fast approaching the $900 billion mark, reports said.
Facebook -- which crossed $500 billion in 2017 -- is not growing much owing to a massive data privacy scandal amid falling user base.
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Fire guts 22 furniture sheds in Hyderabad
Hyderabad (PTI): As many as 22 temporary roadside sheds where furniture was manufactured and sold have been gutted after a fire broke out in one of them here, and no one was injured in the incident, police and fire department officials said on Wednesday.
This massive fire accident occurred in an area under the Bachupally police station limits at around 11 pm on Tuesday. After originating in one of the sheds, the flames spread quickly to adjacent sheds, destroying wooden furniture and other materials required for manufacturing furniture.
Six fire tenders were rushed to the spot, and the fire was extinguished, a police official said.
Based on preliminary investigation, the official said the blaze started due to a short circuit.
Eye-witnesses have stated that there was a short circuit on a pole, and the wire fell onto the sofas, which caught fire. Within minutes, the fire spread, police said.
